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bus381 ch.11


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a method of ranking jobs according to a variety of skill and difficulty factors, adding these rankings to arrive at an overall numerical rating for each given job, and then incorporating wage rates
factor comparison method
developing rate ranges, broadbanding,correcting out of line rate,
establish pay rate 5
groups of jobs based on a set of rules for each grade, where jobs are similar in difficulty but otherwise different. grades often contain dissimilar jobs, such as secretaries, mechanics, and firefights
job evaluation method in which a number of compensable factors are identified, the degree to which each of these factors is present in the job is determioned, and an overall point value is calculated
point method
a fundamental, compensable element of a job, such as skill, effort, responsibility and working conditions
compensable factor
group similar jobs into pay grades
establish pay rate 2.
Compensation, benefits, work/life programs, performance and recognition, development and career opportunities
Five components of total rewards
price each pay grade by using wage curves
establish pay rate 4
union attitudes toward compensation decisions,
union influences on compensation decisions
compensating managers and professional employees
pay for managerial and professional jobs
compensable factors, preparation for job evaluation, ranking method of evaluation, classification evaluation method,point method job evaluation,factor comparison job evaluation method
establishing pay rates1.determine the worth of each job through job evaluation
Employment, labour standard acts,human rights acts, canada/quebec pension act,
legal considerations in compensation
providing equal pay to male dominated job classes and female dominated job clases of equal value to the employer
pay equity
conduct wage/salary survey, formal and informal surveys by employer, commercial professional and government salary surveys
establish pay rate 3
competencies is individual knowledge, skills and behaviours that are critical to successful individual or corporate performance
competency based pay
a method of categorizing jobs into groups
classification method
integrated package of all rewards gained by employees arising from their employment.
total rewards
groups of jobs based on a set of rules for each class, such as amount of independent judgement, skill, physical effort, and so forth. classes usually contain similar jobs , such as all secretairs
a rate of pay that isabove pay range maximum
red circle pay rate

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